Correct me if I am wrong but don't you loose your trail commission if you decide to leave AFG for another Aggregator. If I am correct what percentage of this $100 billion size book does not really belong to them.

That's all very nice but this isn't AFG's book, it's their members, which I am one.

They haven't a singular consumer brand and generate nothing for themselves like Mortgage Choice or Aussie. Good group of guys however they (like every wholesale aggregator) are merely a platform provider of software and commission payment services. That's it!

Suits me as an AFG member however think you're crowing a bit too loud on this one fellas..

Hmmmm I wonder if all those brokers asked the bank for the bank's copy of the Loan Application Form on behalf of the borrower. Borrowers and brokers will be shocked. We were! ASIC ignored so banks are safe - for now.

Coast Broker, you are incorrect!! Might be an idea to read an AFG agreement before comment!! If you read the article, AFG attributes success to its members and does not state that it "belongs" to them. But let's not forget that it was the founding directors that put all of their cash on the line to help get mortgage broking started in this country, so how about a thank you!!

Sadly, the Agg mentioned is one of those with loans which have proven to be sub standard and there are people suffering because of those documents this Christmas. If every broker demanded the bank's copy shortly after approval they would clearly see what the problem is involving some of the biggest aggregators. Then maybe we could all put an end the the charade. Would be a nice gesture to those borrowers affected.

To Coast Broker. I'm one them brokers that lost my trail to AFG when I left them. would I do it again, absolutely!!. you may think the trail book is yours but there is a nasty little clause in their contract and if need be they will go back 7 or 8 years a time where you did not meet that requirement in your contract and use that clause to take your trail. something that a potential AFG member may wish to look for before deciding to jump into bed with them. I nice little hook to keep you there once your in. I guess its their way of placing a caveat over you.

DENISE - I am not sure what you mean by "I wonder if all those brokers asked the bank for the bank's copy of the Loan Application Form on behalf of the borrower. Borrowers and brokers will be shocked."

Are you saying the loan application form we (brokers) submit is being altered in some way?

I personally cannot see how that would happen. We submit the loan electronically and then email the documentation through which goes straight to an assessor.

I would be interested in any real evidence you have though.

Low doc loans have tightened up in the past ten years. You can't simply put down an income to make the loan service. Any income stated has to have the client's accountant sign off on it.

In many cases the bank will also ask for BAS statements and bank statements proving income coming in.

Congratulations to AFG. Good bunch of blokes who have built a magnificent business from scratch.I note Denise (who can't help herself) suggest ASIC is ignoring the issues. This is not my experience with ASIC. If they appear to be ignoring the matter there simply is no case to answer.Also as is quite rightly pointed out the strength of AFG is its members. A huge number of brokers doing the right thing and encouraged by AFG to do just that. People don't get successful by accident. It is a culture and a way of doing things correctly that gathers its own momentum because it is right.